Think of how much money we waste on unnecessary things – bells and whistles for a new car that’s bound to depreciate the moment we take it off the lot, or a new phone bound to go out of style in two years. Why not invest that money and be secure? But, you might be asking, where can you invest that doesn’t run the risk of failure? Gold just may be the answer for you, because it’s secure, impervious to volatility and there is a wealth (get it!) of ways you can invest it here in Canada. Here’s a look at investing in gold to secure some of your money against inflation.
Gold is a wise investment because, as other investments drop, gold prices rise. If you paid attention during the 2008 financial crisis, you would have noticed how gold prices soared, and that’s because gold has always been what backs money. Gold has been around for thousands of years as a sign of wealth, and, because of its rarity, the demand for it has always been high, and will always be high. Gold is very easily stored and transferred; it’s usable; and it can be turned into jewelry and many useful decorative pieces, making it a solid investment that never loses its main value.
If you’re serious about hedging your bets against inflation and investing in a historically secure metal, the first thing you need to do is find a reputable, accredited gold dealer. When you buy precious metals from certain gold dealers in Canada, such as when you buy gold through Guildhall Wealth Management you’ll be given the chance to safely store your investment and even put it towards your RRSP.
Usually when the every other investment goes down the price of gold goes up. This helps gold withstand inflation over a long or short period of time with very minimal risk, and it’s precisely that low risk that continues to make gold an attractive investment – it’s sort of an ongoing loop of security. In fact, even now, rates are going to go up and as inflation begins to rear its head, gold should be an investment to look into.
What goes on around the globe can greatly influence inflation and the economy in general, but gold is an investment that can withstand such influence. Buying gold in Canada can help build your wealth portfolio and diversify your investments by offering you a buffer against an unstable global market. If nothing else, when global inflation is on the rise, gold will either be more valuable or at least hold its value, making it a win-win investment.
Building a portfolio of stable wealth is the key to establishing and securing a good future, whether that’s a luxurious retirement or better home, and gold is key to making sure you’re wealth is stable. Find a reputable, accredited gold dealer and ask them questions about first steps. Why live unstably, when gold is there to work its ameliorating effects on your portfolio.